Tuesday, May 4, 2010

NAR reports pending home sales up in March!


"Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®." NAR reported that pending home sales, which are new contracts not closings, increased 5.3% in March. Closings typically lag pending home sales by one or two months.
Lawrence Yun, the chief economist of NAR reports “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”
If Mr. Yun is correct, this is good news for the real estate and household goods moving industry for the later part of this year and next. However, not so great for the immediate months this spring and summer. Lets hope that the sales continue without the tax credit at a good pace.
If you are one of the new pending home sales or buying or selling in the near future, you need to contact Consumers Relocation to assist you in moving your household goods. Save time and money by using Consumers Relocation to order your moving estimates, negotiate the deal, and act as your advocate throughout the move. Call our offices and ask to speak with a Consultant.


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